Abstract:In data science, time series forecasting is the process of utilizing past or present (known) observations of a target variable to make predictions about future (unknown) observations. Due to the usefulness of forecasting applications in numerous real-life problems, various Statistical and Machine Learning forecasting models have been proposed over recent years. The purpose of this chapter is to compare the performance of several contemporary forecasting models that are considered state of the art. These includ… Show more
“…These systems leverage remote servers, advanced software, and internet connectivity to store, process, and analyze financial data without onpremise installations. Offering features like general ledger management, accounts receivable and payable, financial reporting, and budgeting accessible via web browsers or mobile apps, cloud-based AIS provide scalability, enabling organizations to adjust resources according to needs, reducing infrastructure costs (Karanikola et al, 2023). They offer real-time access and collaboration, enhancing productivity, and incorporate advanced security measures like encryption and access controls to protect sensitive data and ensure compliance.…”
Section: Literature Review 211 Cloud-based Accounting Information Sys...mentioning
The confluence of cloud-based Accounting Information Systems (AIS) adoption and financial reporting quality within Nigeria's Information and Communication Technology (ICT) sector is explored in this study. Given the dynamic landscape of the ICT industry characterized by technological advancements, evolving market dynamics, and regulatory shifts, ICT firms are increasingly turning to cloud-based AIS to streamline their accounting processes and adapt to changing business requirements. The population of the study consists of all eight (8) Information and Communication Technology (ICT) enterprises that are listed on the Nigerian Exchange Group as of 31st December 2022. As a result, this study delves into the impact of Cloud-Based AIS adoption on the Financial Reporting Quality of Listed ICT Firms in Nigeria over a decade-long period from 2013 to 2022. Utilizing a Panel Regression Technique (Random Effect Model), the study identifies a significant overall effect of Cloud-Based AIS on the Financial Reporting Quality of Listed ICT Firms in Nigeria. Moreover, it highlights the significant influence of Cloud Security Investment on financial reporting quality among ICT firms in Nigeria, while Cloud Expenditure Growth is found to have no statistically significant effect. The study emphasizes the need for strategic resource allocation and exploration of cost optimization opportunities, given that cloud expenditure growth may not directly impact financial reporting quality. However, the study recommends for prioritizing cloud security investments to safeguard financial data integrity, mitigate cybersecurity risks, and enhance trust in financial reporting practices, thereby bolstering investor confidence.
“…These systems leverage remote servers, advanced software, and internet connectivity to store, process, and analyze financial data without onpremise installations. Offering features like general ledger management, accounts receivable and payable, financial reporting, and budgeting accessible via web browsers or mobile apps, cloud-based AIS provide scalability, enabling organizations to adjust resources according to needs, reducing infrastructure costs (Karanikola et al, 2023). They offer real-time access and collaboration, enhancing productivity, and incorporate advanced security measures like encryption and access controls to protect sensitive data and ensure compliance.…”
Section: Literature Review 211 Cloud-based Accounting Information Sys...mentioning
The confluence of cloud-based Accounting Information Systems (AIS) adoption and financial reporting quality within Nigeria's Information and Communication Technology (ICT) sector is explored in this study. Given the dynamic landscape of the ICT industry characterized by technological advancements, evolving market dynamics, and regulatory shifts, ICT firms are increasingly turning to cloud-based AIS to streamline their accounting processes and adapt to changing business requirements. The population of the study consists of all eight (8) Information and Communication Technology (ICT) enterprises that are listed on the Nigerian Exchange Group as of 31st December 2022. As a result, this study delves into the impact of Cloud-Based AIS adoption on the Financial Reporting Quality of Listed ICT Firms in Nigeria over a decade-long period from 2013 to 2022. Utilizing a Panel Regression Technique (Random Effect Model), the study identifies a significant overall effect of Cloud-Based AIS on the Financial Reporting Quality of Listed ICT Firms in Nigeria. Moreover, it highlights the significant influence of Cloud Security Investment on financial reporting quality among ICT firms in Nigeria, while Cloud Expenditure Growth is found to have no statistically significant effect. The study emphasizes the need for strategic resource allocation and exploration of cost optimization opportunities, given that cloud expenditure growth may not directly impact financial reporting quality. However, the study recommends for prioritizing cloud security investments to safeguard financial data integrity, mitigate cybersecurity risks, and enhance trust in financial reporting practices, thereby bolstering investor confidence.
“…According to the implementation of more than 38000 models, it is argued that the architectures of LSTMs and CNNs outperform all others. In [30], the comparison of a number of methods-such as ARIMA, neural basis expansion analysis (NBEATS), and probabilistic methods based on deep learning models-applied to time series of financial data is presented. Additionally, in [31], a comparison between CNNs, LSTMs, and a hybrid model of them is given, which was deployed on data concerning the forecasting of the energy load coming from photovoltaics.…”
When forecasting financial time series, incorporating relevant sentiment analysis data into the feature space is a common assumption to increase the capacities of the model. In addition, deep learning architectures and state-of-the-art schemes are increasingly used due to their efficiency. This work compares state-of-the-art methods in financial time series forecasting incorporating sentiment analysis. Through an extensive experimental process, 67 different feature setups consisting of stock closing prices and sentiment scores were tested on a variety of different datasets and metrics. In total, 30 state-of-the-art algorithmic schemes were used over two case studies: one comparing methods and one comparing input feature setups. The aggregated results indicate, on the one hand, the prevalence of a proposed method and, on the other, a conditional improvement in model efficiency after the incorporation of sentiment setups in certain forecast time frames.
“…To summarise, the overall design consists of two stacks, with the trend stack being accompanied by the seasonality stack (Oreshkin et al, 2020), as well as a double residual stacking topology mixed with the forecast-backcast principle. When comparing the performances of different univariate time-series forecasting methods, such as in financial data forecasting, N-BEATS has been found to be one of the best performing models (Karanikola et al, 2022). In our model, we used 8 layers, 12 stacks, 180 lags and trained up to 100 epochs.…”
Recently, severe warm-water episodes have occurred frequently against a background trend of globalocean warming. Sea Surface Temperature anomalies have an impact on the integrity of marineecosystems which is an important part of the Earth’s climate system. The drastic effects of MarineHeatwaves on aquatic life have been on a steady incline in the recent years, damaging aquaticecosystems resulting in enormous loss of marine life. The study of Marine Heatwaves has arisenas a fast-rising topic of inquiry. Operational forecasting and early warning systems that can predictsuch events can help in proactive planning and better mitigation strategies. In this study, the potentialof machine learning models, namely Random Forest and N-BEATS, was evaluated to predict seasurface temperature on a seasonal scale using the NOAA OISST v2 dataset. The predicted sea surfacetemperature data was then used to forecast the occurrence of Marine Heatwaves up to a year inadvance. The proposed models were tested across four historical Marine Heatwave events around theworld. The results showed that the models were able to capture the onset, trend, and extent of theextreme events accurately.
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